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help with inheritance
diddygez
Posts: 38 Forumite
in Cutting tax
Hi wondering if anyone can help... to cut a long story short a relative recently died and left everything to my brother.... he has decided to split it with myself however I am unsure as to what happens in terms of tax etc.. my share will probably be £50k , can he just deposit that in my bank with no implications or will someone need to be told .. any advise would be much appreciated
0
Comments
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once the money is his, he can give you (or anyone else for that matter) anything he likes without any immediate tax issues.
should he die within 7 years then the gift would be added back into his estate for IH tax purposes and potentially some tax might be payable from his estate.0 -
What a lovely brother you have!0
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